by Christopher Wood
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Product Description
The Bubble Economy tells the story of the greatest failure of Japanese economic management since 1945. In the second half of the 1980s Japan's financial madness and arrogance centered on a booming stockmarket and rocketing land prices, which dragged the solid manufacturing economy into a whirlwind of outrageous speculation. Then the boom when spectacularly bust, leaving in its wake a withered stockmarket, crashing land prices, mountains of bad loans, an economy in recession, and a slew of political and financial scandals, graphically exposing the seedy underbelly of Japan's feudal finance system. The Bubble Economy reveals how Japan is spending the first half of the 1990s paying off these excesses in a process that threatens the world's economies with dire consequences, and questions many of the myths built up around Japanese management, pointing to levels of incompetence never before thought possible.
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Average Customer Review:
1 of 1 people found the following review helpful:
Right on the Money!, 2001-07-24
We moved to Japan 6 years ago with only a vague understanding of Japanese political-economy. We ran across Christopher Wood's book at a local bookstore. It was fascinating and has proved to be an astoundingly accurate depiction foretelling the events of today. I picked the book up again today and concluded that, short of having a crystal ball, this guy had to have been the lone voice of common sense and sound reason on the planet at the time he wrote this book. People must have regarded him as an oddity at the time. One wonders where he is now and what he is doing.
3 of 4 people found the following review helpful:
Highly recommended reading on Japan's economic plight., 1998-12-29
Let's face it, many of the "Japan experts" have totally missed the boat. Mr. Wood's book, published in 1992, was "right on the money" and predicted Japan's current economic plight (although underestimating abit the time it would take to get there). This book provides readers with valuable insights into how the Japanese political economy functions (and doesn't function). By focusing on fundamentals, particularly the banking system, Mr. Wood provides the reader with a framework for analyzing the daily tidbits of information coming out in the press.
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